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State Bank of India ₹20 lakh Education Loan EMI for 10 Years
At the advertised starting rate of 7%, the EMI is about ₹23,222 a month, with total interest of about ₹7,86,604.
Source: State Bank of India official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Prepayment options (optional): pay extra to finish sooner
EMI at higher rates
| Rate | EMI | Total interest | Total payment |
|---|---|---|---|
| 7% (starting) | ₹23,222 | ₹7,86,604 | ₹27,86,604 |
| 7.5% | ₹23,740 | ₹8,48,842 | ₹28,48,842 |
| 8% | ₹24,266 | ₹9,11,862 | ₹29,11,862 |
| 8.5% | ₹24,797 | ₹9,75,657 | ₹29,75,657 |
| 9% | ₹25,335 | ₹10,40,219 | ₹30,40,219 |
Year-by-year repayment schedule at 7%
How much of each year's payments goes to principal and to interest, and what you still owe at the end of the year. Use the calculator above for a month-by-month view and prepayment options.
| Year | Principal | Interest | Paid | Balance left |
|---|---|---|---|---|
| Year 1 | ₹1,43,197 | ₹1,35,464 | ₹2,78,660 | ₹18,56,803 |
| Year 2 | ₹1,53,548 | ₹1,25,112 | ₹2,78,660 | ₹17,03,255 |
| Year 3 | ₹1,64,648 | ₹1,14,012 | ₹2,78,660 | ₹15,38,607 |
| Year 4 | ₹1,76,551 | ₹1,02,109 | ₹2,78,660 | ₹13,62,056 |
| Year 5 | ₹1,89,314 | ₹89,347 | ₹2,78,660 | ₹11,72,742 |
| Year 6 | ₹2,02,999 | ₹75,661 | ₹2,78,660 | ₹9,69,743 |
| Year 7 | ₹2,17,674 | ₹60,986 | ₹2,78,660 | ₹7,52,069 |
| Year 8 | ₹2,33,410 | ₹45,251 | ₹2,78,660 | ₹5,18,659 |
| Year 9 | ₹2,50,283 | ₹28,377 | ₹2,78,660 | ₹2,68,376 |
| Year 10 | ₹2,68,376 | ₹10,284 | ₹2,78,660 | ₹0 |
Frequently asked questions
What is the EMI for a ₹20 lakh State Bank of India education loan for 10 years?
At State Bank of India's starting rate of 7% the EMI is about ₹23,222 a month. If your offered rate is 8% it would be about ₹24,266.
How much total interest will I pay?
At 7% the total interest over 10 years is about ₹7,86,604, so you repay about ₹27,86,604 in all.